ProShares UltraPro QQQ is trading 4.5% up today as Nasdaq-100 futures and cash markets bounce after last week’s sharp tech selloff tied to a stronger-than-expected May payrolls report and rising yields.
- The ETF’s 3x leveraged exposure to the Nasdaq-100 is magnifying the recovery move, with heavily sold large-cap tech and communication-services names leading gains.
- Investors are bargain-hunting following Friday’s steep decline, which was driven by macro data and interest rate concerns.